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MarketPulse

12:08PM

Fall hazard leads to recall of Graco high chairs
(
TGTWMT
)
by William Spain

CHICAGO (MarketWatch) -- The U.S. Consumer Product Safety Commission on Wednesday announced a recall of 86,000 Graco wooden high chairs due to fall hazards. The Chinese-made products have a seat than can loosen or detach from the base and the company has received multiple reports of children falling, leading to bumps, bruises and scratches. It also got one report of a concussion in Canada. The high chairs were sold at Babies R Us, Burlington Coat Factory and other retail outlets including Target.com
(TGT)
and Walmart.com
(WMT)
between September 2007 and December 2010 for about $130.

11:56AM

Government warns on counterfeit air bags
(
FGMTM
)
by William Spain

CHICAGO (MarketWatch) -- The National Highway Traffic Safety Administration warned Wednesday that thousands of motorists may be driving vehicles with counterfeit air bags that can malfunction during an accident. The safety advisory comes as the agency said it had "become aware of a problem involving the sale of counterfeit air bags for use as replacement parts in vehicles that have been involved in a crash." The fakes look almost identical to certified, original equipment parts and carry the insignia and branding of major automakers including Ford
(F)
, General Motors
(GM)
and Toyota
(TM)
. The problem currently affects less than 1% of all vehicles on the road and NHTSA said that only those that have had an air bag replaced within the past three years are at risk.

11:40AM

Nevada gambling revenue off 3% in August
(
MGMLVSWYNNCZR
)
by William Spain

CHICAGO (MarketWatch) -- Gambling revenue in Nevada fell a bit more than 3% to $859.2 million in August, according to figures released Wednesday by the Nevada Gaming Control Board. On the Las Vegas Strip, which accounts for more than half the statewide total, revenue slipped 1.2% to $490.9 million with the take from slot machines off 9% and table games up 7.6% on the back of solid baccarat volume. "We believe these results are consistent with investor expectations of relatively soft summer spend trends on the Strip as evidenced by our weekly room rate survey," said Joe Greff of J.P. Morgan. "At the end of the day, we believe these results point to a continued uneven recovery on the Las Vegas Strip, which represents no change from prior and more recent views." Major players in the market include MGM Resorts
(MGM)
, Caesars Entertainment
(CZR)
, Las Vegas Sands
(LVS)
and Wynn Resorts
(WYNN)
.

11:30AM

White is No. 1 car color worldwide: survey
(
PPG
)
by William Spain

CHICAGO (MarketWatch) - White is the favorite car color worldwide, covering some 22% of vehicles, according to data released Wednesday by PPG Industries. It is followed by silver at 20% and black at 19%. Rounding out the top five are gray at 12% and red at 9%. The company noted that while white remains on top, shades including gold, bronze and copper are increasing in popularity and the overall use of color is on the rise. "Color is one of the first characteristics noticed in product design, and it is increasingly being used in everyday items, from cell phones to large appliances, based largely on automotive trends," said Jane Harrington, PPG's
(PPG)
manager of color styling for automotive. "The palette being developed for the automotive segment continues to be influenced by culture, nature, fashion, interior design, color popularity and new pigment technology."

SAN FRANCISCO (MarketWatch) -- Ambarella Inc.
(amba)
saw its shares rise nearly 12% to $6.70 in early trades on Wednesday following its initial public offering, which priced late Tuesday well below its expected range. The Santa Clara, Calif.-based company, which makes chips used in the capture and display of high-definition video, priced 6 million shares at $6 a piece on Tuesday. It had previously expected to price its offering in the $9-$11 range. About 4.9 million of the shares in the offering are being sold by the company, with the rest coming from selling shareholders. The stock trades on the Nasdaq under the ticker symbol "AMBA."

11:21AM

Alex Karras dies at 77by David B. Wilkerson

CHICAGO (MarketWatch) - Alex Karras, former All-Pro defensive tackle for the Detroit Lions, died Wednesday of kidney failure at the age of 77 in Los Angeles, according to the Associated Press. He had also suffered from dementia, and was part of a lawsuit filed by more than 3,500 players who allege that the NFL failed to adequately protect them from head injuries. Karras played for the Lions from 1958 to 1971, one of the standouts on a defense consistently rated among the NFL's best. The only blemish on his football career was a 1963 suspension by Commissioner Pete Rozelle for gambling on NFL games. Karras' ferocious reputation on the field contrasted with his many humorous appearances on TV talk shows during the period, which he eventually parlayed into a successful acting career. He co-starred with his wife, actress Susan Clark, in the television movie "Babe" and the long-running sitcom "Webster." Karras also appeared in Mel Brooks' 1974 film "Blazing Saddles" as the strong but dumb Mongo. Karras also served as a color commentator on "ABC's Monday Night Football" from 1974 to 1976.

SAN FRANCISCO (MarketWatch) -- Households will spend more for heating oil and natural gas this winter than last, as temperatures return to "roughly normal" compared with the unusually warm winter seen last year, according to the Energy Information Administration's monthly Short-Term Energy and Winter Fuels Outlook report released Wednesday. Average U.S. household expenditures for heating oil and natural gas will increase by 19% and 15%, respectively, the report said. The EIA also expects regular gasoline prices at the retail level to average $3.60 a gallon for the fourth quarter of 2012, up slightly from $3.58 projected in last month's report. It forecast an average price of $3.65 for this year and $3.44 for next. November heating oil
(hox2)
was last up 2 cents at $3.22 a gallon and November natural gas
(ngx12)
was flat at $3.47 per million British thermal units.

10:09AM

August job openings tick down to 3.56 millionby Ruth Mantell

WASHINGTON (MarketWatch) -- Job openings at U.S. workplaces ticked down to 3.56 million in August from 3.59 million in July, the U.S. Labor Department reported Wednesday. Compared with the prior year, job openings rose 13% -- private openings increased 13% to 3.19 million, and government openings rose 10% to 369,000. There were more than 4 million jobs open when the recession began in December 2007. With about 12.54 million unemployed people in August, there were about 3.5 potential job seekers for each opening, down from 3.6 in July. In August of 2011, there were about 13.92 million unemployed people -- about 4.4 potential seekers per opening. The number of separations, such as quits and layoffs, rose to 4.35 million in August from 4.09 million in July. Meanwhile, the total number of hires increased to 4.39 million from 4.28 million. The level of hires was about 5 million when the recession began.

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